4,190 Shares in Blackstone Inc. $BX Purchased by BNB Wealth Management LLC

BNB Wealth Management LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,190 shares of the asset manager’s stock, valued at approximately $646,000.

Several other institutional investors have also recently made changes to their positions in BX. Norges Bank purchased a new stake in shares of Blackstone during the fourth quarter worth about $1,275,747,000. Capital Research Global Investors grew its position in shares of Blackstone by 99.2% during the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock worth $983,690,000 after purchasing an additional 3,178,133 shares in the last quarter. Amundi grew its holdings in Blackstone by 85.6% during the 4th quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock valued at $417,620,000 after buying an additional 1,249,269 shares in the last quarter. Close Asset Management Ltd grew its holdings in Blackstone by 16,035.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after buying an additional 1,133,197 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in Blackstone by 476.1% during the 4th quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock valued at $204,193,000 after buying an additional 1,094,307 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $124.89 on Thursday. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $92.78 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.39 and a beta of 1.59. The stock has a 50 day moving average price of $120.76 and a 200 day moving average price of $130.56.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the company earned $1.11 EPS. Blackstone’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BX. BMO Capital Markets raised their price target on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. TD Cowen cut their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. The Goldman Sachs Group cut their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, Barclays lowered their price objective on Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.86.

Insiders Place Their Bets

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the purchase, the insider owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ruth Porat purchased 355 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the purchase, the director directly owned 41,818 shares in the company, valued at $5,145,286.72. The trade was a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 12,355,303 shares of company stock valued at $264,789,896 over the last quarter. 1.00% of the stock is currently owned by insiders.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.